grace period

noun

: a period of time beyond a due date during which a financial obligation may be met without penalty or cancellation

Examples of grace period in a Sentence

The terms of the loan allow for a ten-day grace period.
Recent Examples on the Web Is there a grace period for late rent for California tenants? Angela Rodriguez, Sacramento Bee, 11 July 2024 Despite that brief grace period, physicians were forced to begin weaning trans adolescents off of their hormone treatments last year, in order to avoid suddenly stopping care. Orion Rummler, Them, 24 June 2024 What to do if an airline isn’t following the 24-hour rule According to the DOT, airlines have to be upfront with customers about the one-day refund grace period both on their websites and when they are contacted by passengers. Jessica Puckett, Condé Nast Traveler, 25 July 2023 The federal and state governments should give all militias that do not qualify as indigenous police a grace period to disarm and demobilize. Vanda Felbab-Brown, Foreign Affairs, 27 Sep. 2018 See all Example Sentences for grace period 

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'grace period.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

Word History

First Known Use

1907, in the meaning defined above

Time Traveler
The first known use of grace period was in 1907

Dictionary Entries Near grace period

Cite this Entry

“Grace period.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/grace%20period. Accessed 22 Jul. 2024.

Legal Definition

grace period

noun
grace pe·​ri·​od
: a period of time beyond a scheduled date during which a required action (as payment of an obligation) may be taken without incurring the ordinarily resulting adverse consequences (as penalty or cancellation): as
a
: a period of 30 days or one month during which premiums on insurance policies may be paid without penalty
b
: a period of ten days during which certain security interests (as those in fixtures) must be perfected in order to have priority over conflicting security interests under Article 9 of the Uniform Commercial Code

called also days of grace

More from Merriam-Webster on grace period

Last Updated: - Updated example sentences
Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!